- Niva Bupa Health Insurance CDO Ankur Kharbanda and National Head of Developed Markets Ishwar Dutt Sharma to inaugurate the new 1,300 sqft office with state-of-the-art in-house training set up on Monday, June 26, 2023
- Started with a team of 9 advisors, it has grown nine-fold to 81 Advisors, including 15 women
- Made a humble beginning with 5 customers and now boarded a portfolio of 700+ happy customers
- From the bottom of the pyramid as a trainee to grow into a Trainer-Mentor having trained more than 700 new advisors on Max Life Sales and IRDA Trainings
- Have been recognized with Club Qualification more than 100+ times
NE BUSINESS BUREAU
AHMEDABAD, JUNE 24
Built on solid foundation of integrity, commitment & trust, Bhargav Thakkar’s Acumen Advisory has been ‘Making Life Easy’ for all – both rich and poor – for the last 17 years, said one of the senior most insurance and financial advisors of Gujarat.
With an aim to help its discerning readers, navjeevanexpress.com reached out to Bhargav Thakkar, Founder of Bhargav Thakkar’s Acumen Advisory, to understand his insurance and investment philosophies and professional journey over the years.
What are your success mantras?
In any profession if one works with the fundamental policy of integrity, commitment & trust, one can not only succeed but also win over the confidence of his customers. 17 years ago, I made a humble beginning as an insurance agent with 5 customers and now boarded a portfolio of 700+ happy customers. I was ably supported by a team of 9 advisors, now their number has grown nine-fold to 81 advisors, including 15 women.
Could you spell out the qualities of an ideal insurance and investment advisor?
With the uncertainties in life, one has to plan for the security of his family and dependents right from the day he starts working. Choosing a good advisor in both can help one to avoid these costs and focus on his goals. It is the misconception that advisors are just for rich people and not for the have-nots. Working with an expert advisor is a great choice for anyone who wants to get their personal finances on track and set long-term objectives. An ideal advisor for your requirements ought to know the nitty-gritty of your needs and the fine prints of the insurance and investment rules. And above all, he has to safeguard his clients’ needs during the rainy days.
Tell us your policy of knowledge sharing and mentoring advisors.
From the bottom of the pyramid as a trainee I have grown into a Trainer-Mentor having trained more than 700 new advisors on Max Life Sales and IRDA Trainings. One has to pass on his knowledge to others so that they also learn well and become self-reliant as ideal advisors. In recognition of my selfless dedication to the insurance seekers, and my acumen people call me as “Insurance ka Doctor” amongst my circle.
How do you win over customers?
In the beginning of my career and even today, my focus is and will always be customer-centric. The word by mouth publicity is more powerful than various forms of marketing strategies. In keeping with the times, we do indulge in social marketing.
Do you work for only insurance firms or all?
Apart from Max Life Insurance and Niva Bupa Health Insurance, Acumen Advisory also has plans and policies of Bajaj Allianz General Insurance, Tata AIG General Insurance, Go Digit General Insurance, and Tata AIA Life Insurance as part of its portfolio. We do offer personal finance advise on investment, retirement planning etc.
How do you feel as you move into a spacious office?
Niva Bupa Health Insurance CDO Ankur Kharbanda and National Head of Developed Markets Ishwar Dutt Sharma will inaugurate the new 1,300 sqft office with state-of-the-art in-house training set up on Monday, June 26, 2023. The presence of such senior officials at the Inaugural function, reiterates my passion, commitment, strong collaboration and a bond that I have been able to create with a national organization of such repute.
Whether your company undertakes any CSR activity?
Yes, we do undertake many CSR activities for the uplift of under privileged children to pursue education and their healthcare on our own. Further, being the member of Lions Club and the BNI, we extend our help to them in their community development works. Having recovered from Covid during the second wave, I think everyone should pay back to the society in possible manner. We have helped the frontline warriors to get Rs 1.41 crore insurance claim during the pandemic
On this momentous occasion, Bhargav Thakkar shares his thoughts about the future of Health and Life Insurance industry
Increasing Demand
The demand for Health and Life Insurance in India is expected to rise significantly in the future. Factors such as growing awareness about insurance, rising healthcare costs, and increasing disposable income are likely to contribute to this demand. Additionally, the ongoing COVID-19 pandemic has highlighted the importance of insurance coverage, further driving the demand for health insurance.
Technological Advancements
Technology will play a crucial role in shaping the future of the insurance industry. The adoption of digital platforms, mobile applications, and artificial intelligence (AI) will simplify the insurance process, making it more accessible and convenient for customers. Insurtech companies are likely to emerge, offering innovative solutions such as personalized policies, real-time risk assessment, and improved customer service through automation.
Customization and Personalization
With advancements in data analytics and AI, insurance companies will have the ability to gather and analyze vast amounts of customer data. This will enable them to offer more personalized and customized insurance products tailored to individual needs. Customers can expect policies that align closely with their health conditions, lifestyles, and preferences.
Emphasis on Preventive Health
There will be a shift towards preventive health measures, and insurance companies may encourage policyholders to adopt healthier lifestyles. Insurers could offer incentives such as lower premiums, rewards, or discounts for policyholders who engage in activities that promote wellness, such as regular exercise, healthy eating habits, and preventive screenings.
Integration of HealthTech
Health technology or HealthTech innovations are likely to integrate with insurance services. Wearable devices, telemedicine platforms, and health monitoring apps may become more commonplace, allowing insurers to collect real-time health data and offer personalized policies based on individual health metrics.
Rise of Microinsurance
Microinsurance, which provides coverage to low-income individuals and families, is expected to gain traction in India. Insurers may introduce affordable and easily accessible insurance products targeted at underserved segments of the population, thereby promoting financial inclusion and social security.
Regulatory Reforms
The Insurance Regulatory and Development Authority of India (IRDAI) is likely to introduce reforms and regulations to foster innovation, customer-centricity, and transparency in the insurance industry. These reforms may focus on streamlining processes, protecting customer interests, and ensuring sustainable growth of the sector.
